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Q2FY15 net slips 26% at textile major Raymond
31
Oct '14
Net profit at BSE-listed and Indian textiles and apparels producer - Raymond Ltd, slipped 26% year-on-year in the second quarter ending September 30, of fiscal 2014-15.

Net income fell 26% from a year ago quarter to Rs 68.1 crore on revenue of Rs 1471.5 crore, which however was up 19%, from the corresponding quarter of fiscal 2013-14.

The textile division saw sales urge 23% from the prior year quarter to Rs 694 crore in the reporting quarter. EBITDA however was impacted from product mix and higher input costs.

Revenue from the apparel division at Raymond rose 15% from a year earlier quarter to Rs 293 crore, but EBITDA was impacted by 5% from higher advertisement spends.

Garmenting segment turnover grew to Rs 150 crore in the quarter under review, up 28% from same quarter of fiscal 2013-14. EBITDA too rose by 5% during the quarter.

Luxury cotton shirting fabrics segment saw EBITDA margins improve by 5.8% to 16.8%, from better realisations and one-off income of Rs 6.50 crore, while sales went up 21% to Rs 107 crore, during the July-September 2014 quarter.

EBITDA improved by 1% to 10% at the denim fabrics business in the reporting quarter, while its revenue fell 1% year-on-year to Rs 234 crore. (AR)

Fibre2fashion News Desk - India

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